Hines, the global real estate firm, today announced that Hines Global Income Trust (“HGIT”) has acquired 200 Park Place for $145 million. As one of the most highly sought-after office buildings in Houston, the state-of-the-art project is part of an upscale mixed-use community within Houston’s Inner Loop, making it a premium location for current and future tenants.
Located at 4200 Westheimer Road, the asset is 100% leased to a diverse roster, with JLL and Buckeye Partners serving as the anchor tenants. Surrounded by walkable high-end shops, restaurants and green space, 200 Park Place offers tenants a unique live-work-play experience. Completed in April 2020, the building is WELL and LEED certified and is fully electric, exceeding current local codes relative to sustainability and performance requirements.
The acquisition joins a $3.4 billion portfolio that is roughly two-thirds weighted toward the industrial and living sectors. HGIT is diversified by geography and real estate asset class with a focus on dynamic sectors and markets.
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